NEW YORK, Oct. 18, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Acelyrin, Inc. (NASDAQ: SLRN), and The Clorox Company (NYSE: CLX). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Acelyrin, Inc. (NASDAQ: SLRN)
On or around May 5, 2023, Acelyrin conducted its initial public offering ("IPO"), selling 30 million shares of common stock priced at $18.00 per share. Then, on September 11, 2023, after the markets closed, Acelyrin announced disappointing top-line results from Part B of the Phase 2b/3 trial evaluating izokibep, the Company's lead drug candidate, for the treatment of moderate-to-severe hidradenitis suppurativa. Specifically, izokibep failed to show statistically significant reduction in abscesses and inflammatory nodules in patients as compared to placebo.
On this news, Acelyrin's stock price fell $17.19 per share, or 61.61%, over the following two trading sessions, to close at $10.71 per share on September 13, 2023.
For more information on the Acelyrin investigation go to: https://bespc.com/cases/SLRN
The Clorox Company (NYSE: CLX)
On August 14, 2023, Clorox disclosed that it had "identified unauthorized activity on some of its Information Technology (IT) systems" and that "the incident has caused, and is expected to continue to cause, disruption to parts of [Clorox]'s business operations." On this news, Clorox's stock price fell $2.56 per share, or 1.6%, to close at $157.61 per share on August 15, 2023. Then, on September 18, 2023, Clorox further revealed that, after the cybersecurity attack, Clorox "implemented its business continuity plans and began manual ordering and processing procedures shortly . . . at a reduced rate of operations" and that Clorox was "operating at a lower rate of order processing and has recently begun to experience an elevated level of consumer product availability issues." Clorox also disclosed that "[d]ue to the order processing delays and elevated level of product outages, [Clorox] now believes the impact will be material on Q1 financial results."
On this news, Clorox's stock price fell $3.50 per share, or 2.39%, to close at $142.70 per share on September 18, 2023.
For more information on the Clorox investigation go to: https://bespc.com/cases/CLX
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
